Leonteq Securities AG Makes New Investment in Caesars Entertainment, Inc. $CZR

Leonteq Securities AG purchased a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,106 shares of the company’s stock, valued at approximately $611,000.

A number of other hedge funds also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Caesars Entertainment by 246,899,900.0% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after acquiring an additional 4,937,998 shares during the period. Morgan Stanley increased its stake in Caesars Entertainment by 121.0% in the fourth quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock valued at $167,049,000 after acquiring an additional 3,910,430 shares during the period. Capital World Investors raised its position in Caesars Entertainment by 29.8% in the third quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. Norges Bank acquired a new position in Caesars Entertainment in the fourth quarter worth about $76,050,000. Finally, MUFG Securities EMEA plc bought a new position in Caesars Entertainment during the fourth quarter worth about $65,492,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

Insiders Place Their Bets

In other Caesars Entertainment news, insider Edmund L. Quatmann, Jr. sold 81,566 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $29.35, for a total value of $2,393,962.10. Following the transaction, the insider owned 18,263 shares of the company’s stock, valued at approximately $536,019.05. The trade was a 81.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Pegram sold 16,897 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.46, for a total value of $497,785.62. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 293,463 shares of company stock valued at $8,609,241 over the last ninety days. Insiders own 1.18% of the company’s stock.

Caesars Entertainment Price Performance

Shares of Caesars Entertainment stock opened at $30.39 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 3.25. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -12.82 and a beta of 1.76. Caesars Entertainment, Inc. has a 1-year low of $17.86 and a 1-year high of $31.58. The firm’s 50-day moving average price is $28.72 and its two-hundred day moving average price is $25.86.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, April 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Caesars Entertainment had a negative net margin of 4.19% and a negative return on equity of 7.88%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.54) EPS. On average, equities analysts predict that Caesars Entertainment, Inc. will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James Financial downgraded Caesars Entertainment from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 29th. Zacks Research downgraded Caesars Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Truist Financial lowered Caesars Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the company from $32.00 to $31.00 in a research note on Friday, May 29th. Jefferies Financial Group upped their price target on Caesars Entertainment from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, April 6th. Finally, Wells Fargo & Company increased their price objective on Caesars Entertainment from $26.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.53.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.